Within the framework of this agreement, both countries pledged to exchange experiences, statistics and human resources in terms of tourism promotion, digital marketing, market intelligence or development of intelligent tourist destinations.
The signing of the memorandum took place in Seoul, on the occasion of the visit that the Spanish Foreign Minister, Josep Borrell, and the Minister of Tourism, Reyes Maroto, make these days to South Korea with the Kings of Spain.
"With the signing of this memorandum, cooperation in a strategic area for this Government is reinforced, which will undoubtedly favor the increase in tourist flows; we want South Korean tourists to bet more and more on Spain as the main destination of their trips to Europe "said Reyes Maroto.
Currently, South Korea is the third largest issuing market in Asia for Spain in tourism, practically matched with Japan.
Until August, 435,000 South Korean tourists arrived in Spain, representing an increase of 39.2% over the same period last year.
The tourism sector contributes 137,020 million euros directly to the Spanish economy, representing 11.7% of GDP, according to the most recent data from the National Statistics Institute, published at the end of 2018.
Tourism holds 2.6 million jobs in Spain (12.8% of the total), so the country's economic stability is closely linked to the health of the sector.
In addition to the tourism cooperation agreement, Spain and South Korea signed on Wednesday other agreements for collaboration in areas such as the exchange of commercial information or the promotion of trade and investment.